Modus Advisors LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Modus Advisors LLC bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 400 shares of the company’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new stake in DocuSign in the 3rd quarter valued at about $28,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign in the third quarter valued at approximately $33,000. Reston Wealth Management LLC purchased a new position in DocuSign during the third quarter worth approximately $47,000. GAMMA Investing LLC boosted its stake in DocuSign by 311.8% during the fourth quarter. GAMMA Investing LLC now owns 803 shares of the company’s stock worth $72,000 after buying an additional 608 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in DocuSign in the 3rd quarter valued at $51,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total transaction of $508,725.00. Following the sale, the insider now owns 43,301 shares in the company, valued at $2,937,106.83. This represents a 14.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 700,589 shares of company stock valued at $66,829,120 in the last ninety days. Company insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $90.21 on Friday. The firm’s 50-day moving average is $85.19 and its two-hundred day moving average is $67.53. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a market capitalization of $18.22 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 8.72 and a beta of 0.92.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Jefferies Financial Group boosted their target price on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Citigroup raised their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Wells Fargo & Company lifted their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.45.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.